Godrej Properties Limited (GPL) has secured a significant new development opportunity, emerging as the highest bidder in an e-auction conducted by the Haryana Shehri Vikas Pradhikaran (HSVP) for a prime group housing plot at Golf Course Road in Gurugram. The company has received the Letter of Intent for the project, which spans 7.5 acres in one of the most prestigious micro-markets of Gurugram.
This newly acquired plot offers over 1.7 million square feet of development potential, dedicated to luxury residential apartments in varied configurations. The project is expected to generate an estimated revenue exceeding Rs 5,500 crore. In FY24, GPL had also secured two other prime parcels measuring 5.15 acres and 2.76 acres in the same region through HSVP’s auction process, both of which are slated for launch within the current financial year. With these acquisitions, GPL’s developable land in the Golf Course Road area has an estimated revenue potential of over $1.5 billion. Gaurav Pandey, MD & CEO of Godrej Properties, expressed confidence in the move, stating, “We have witnessed strong demand for our projects in the NCR market, showcasing the trust our customers place in us. This acquisition will enhance our portfolio and meet the growing demand for high-quality residential communities.”
